04 Jul Energy taskforce publishes recommendations to support struggling businesses

The West Midlands Industrial Energy Taskforce has presented its final report to the Mayor of the West Midlands on the impact of the energy crisis on the region’s businesses along with its recommendations on what needs to be done to protect them from future price volatility.

Among the report’s recommendations is a focus on immediate solutions for business on the brink of closure, such as the ability to renegotiate locked-in high-cost fixed energy deals. This is something the Mayor, Andy Street, has been calling for action on by energy companies, government, and the energy regulator in recent months.

Other recommendations outlined in the report include incentives for companies to implement energy efficiency measures, and longer-term interventions including government and industry coming together to address some of the built-in flaws in the UK’s complex energy markets.

The business-led taskforce was set up as an independent commission by the Mayor and tasked with identifying the businesses most affected by the energy crisis, what challenges they were facing and the scale of the impact, and what immediate actions could be taken at a regional level to address those issues and protect them for the future.

To read the full report please use the following link: https://www.wmca.org.uk/news/energy-taskforce-publishes-recommendations-to-support-struggling-businesses/